The NACFB is inviting its members to a special interim conference to support the next set of changes the Association has to make in response to the regulated environment.
The FCA has given commercial finance brokers wider options and the emergence of principles and appointed representatives within the sector.
The NACFBs Code of Practice and Constitution have been revised to accommodate a new regulatory landscape being led by not only the FCA but also its lenders and funders.
The Association is unable to make any changes to its practices without reverting to its members for approval to approve the changes deemed necessary in order to keep the commercial finance broking industry in line with the demands of 2015 and beyond.
We need to ensure that the Association is protecting our members and preparing the broking industry for a sustainable future, said the NACFB.
This is not only about regulatory changes, but to react to the requirements from the 124 lenders that we work with.
They are keener than ever that we encompass regulation and support the broking industry as we forge even tighter links with the asset finance funders, high street and challenger banks and the alternative lending market.
Hitachi has recently supported 140 new brokers joining the NACFBs membership and two other lenders are set to follow that example, giving the NACFB enormous opportunities and responsibility to ensure commercial finance brokers remain the primary source of new business introductions.
The NACFB has also secured the services of a regulatory lawyer who will be tasked with overseeing some constitutional reform and redrawing critical documents such as the Code of Practice.
The Interim Conference and EGM will be held on 23rd September at the Hilton Metropole in Birmingham and to register, go to Events listings at nacfb.org.
